Public Employees Retirement Association of Colorado boosted its stake in shares of Kaiser Aluminum Corp. (NASDAQ:KALU) by 12.3% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 174,087 shares of the industrial products company’s stock after purchasing an additional 19,040 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Kaiser Aluminum were worth $16,993,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of KALU. Aperio Group LLC grew its holdings in Kaiser Aluminum by 4.4% during the 2nd quarter. Aperio Group LLC now owns 19,187 shares of the industrial products company’s stock valued at $1,873,000 after purchasing an additional 814 shares in the last quarter. Dupont Capital Management Corp acquired a new stake in Kaiser Aluminum during the 2nd quarter valued at $436,000. ARK Investment Management LLC acquired a new stake in Kaiser Aluminum during the 2nd quarter valued at $352,000. First Trust Advisors LP grew its holdings in Kaiser Aluminum by 127.5% during the 2nd quarter. First Trust Advisors LP now owns 9,754 shares of the industrial products company’s stock valued at $952,000 after purchasing an additional 5,466 shares in the last quarter. Finally, Fisher Asset Management LLC grew its holdings in Kaiser Aluminum by 2.6% during the 2nd quarter. Fisher Asset Management LLC now owns 186,810 shares of the industrial products company’s stock valued at $18,235,000 after purchasing an additional 4,797 shares in the last quarter. Institutional investors own 98.02% of the company’s stock.
In other news, COO Keith Harvey sold 1,000 shares of Kaiser Aluminum stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $95.71, for a total value of $95,710.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John Malcolm Donnan sold 5,000 shares of Kaiser Aluminum stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $100.00, for a total transaction of $500,000.00. The disclosure for this sale can be found here. Insiders sold a total of 22,450 shares of company stock valued at $2,180,591 over the last ninety days. Company insiders own 1.70% of the company’s stock.
Kaiser Aluminum (NASDAQ:KALU) last announced its quarterly earnings data on Wednesday, July 24th. The industrial products company reported $1.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.07. Kaiser Aluminum had a net margin of 5.96% and a return on equity of 14.23%. The company had revenue of $375.00 million during the quarter, compared to analyst estimates of $388.25 million. During the same period last year, the business earned $1.68 EPS. The firm’s revenue for the quarter was down 9.6% compared to the same quarter last year. On average, equities research analysts expect that Kaiser Aluminum Corp. will post 7.2 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, July 25th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.58%. The ex-dividend date is Wednesday, July 24th. Kaiser Aluminum’s dividend payout ratio (DPR) is presently 37.09%.
KALU has been the subject of a number of recent analyst reports. Goldman Sachs Group raised shares of Kaiser Aluminum from a “sell” rating to a “neutral” rating and set a $97.00 price target for the company in a report on Thursday, August 8th. ValuEngine lowered shares of Kaiser Aluminum from a “hold” rating to a “sell” rating in a report on Tuesday, July 9th. Zacks Investment Research raised shares of Kaiser Aluminum from a “hold” rating to a “buy” rating and set a $108.00 price target for the company in a report on Thursday, August 1st. Finally, BidaskClub raised shares of Kaiser Aluminum from a “sell” rating to a “hold” rating in a report on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. Kaiser Aluminum has a consensus rating of “Hold” and an average price target of $109.33.
Kaiser Aluminum Company Profile
Kaiser Aluminum Corporation manufactures and sells semi-fabricated specialty aluminum mill products. The company offers rolled, extruded, and drawn aluminum products used principally for aerospace and defense, automotive, consumer durables, electronics, electrical, and machinery and equipment applications.
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